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MARC has withdrawn its AAA(bg) and MARC-1(bg) ratings on Mega Palm Sdn Bhd’s Bank Guaranteed Medium Term Notes (MTN) of up to RM70 million and Bank Guaranteed Commercial Papers (CP) of up to RM80 million respectively. The withdrawal of the ratings follows the final redemption of the outstanding amount of RM10 million MTNs and RM33 million CPs on May 23, 2013 as confirmed by the facility agen...
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MARC has withdrawn its rating of AAAIS on Midciti Resources Sdn Bhd’s (Midciti Resources) outstanding RM880 million Islamic Medium Term Notes Programme. The rating withdrawal follows the completion of the novation of the aforementioned programme from Midciti Resources to Midciti Sukuk Berhad (MSB), a wholly-owned special purpose vehicle of KLCC Real Estate Investment Trust (KLCC REIT). The n...
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MARC has assigned a rating of AAAIS to Midciti Sukuk Berhad's (MSB) RM880 million Islamic Medium Term Notes Programme (Sukuk Programme). The outlook on the rating is stable. MSB’s RM880 million Sukuk Programme represents a novation of Midciti Resources Sdn Bhd’s (Midciti Resources) former IMTN programme of the same amount; the outstanding sukuk novated under the rated programme amounts...
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MARC has affirmed its ratings on LBS Bina Group Bhd’s (LBS Bina) RM135 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) Programme at MARC-1IS(fg)/AAAIS(fg) with a stable outlook. The affirmed ratings and outlook are underpinned by an irrevocable and unconditional Kafalah Guarantee provided by financial guarantee institution Danajamin Nasional Berhad (Danajamin) in relat...
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MARC has affirmed the following long-term ratings on Special Coral Sdn Bhd’s (Special Coral) RM300 million Senior Class and RM800 million Subordinated Class Medium Term Notes (MTNs) under its RM1.1 billion MTN Programme:Programme sizeIssued amountRatingOutlookSenior Class MTNs1.Class ARM160 millionRM160 millionAAAStable2.Class BRM40 millionRM40 millionAAStable3.Class CRM35 million-ASta...
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MARC has withdrawn its MARC-1/AAA and MARC-1/AA ratings on the RM160.0 million Class A notes and RM40.0 million Class B notes respectively under Inverfin Sdn Bhd’s (Inverfin) RM200.0 million Commercial Papers/Medium Term Notes (CP/MTN) Programme in conjunction with the full repayment of outstanding notes under the programme. The CP/MTN Programme was refinanced with a new RM200.0 million MTN ...
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MARC has assigned final ratings of AAA and AA to Inverfin Sdn Bhd’s (Inverfin) RM185.0 million Tranche A notes and RM15.0 million Tranche B notes respectively. The notes are to be issued under Inverfin’s RM200.0 million Medium Term Notes (MTN) Programme. The outlook on the ratings is stable.Upon review of the final documentation of the forthcoming notes issuance, MARC is satisfied that...
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MARC has assigned preliminary ratings of AAA and AA to Inverfin Sdn Bhd’s (Inverfin) proposed RM185.0 million Tranche A notes and RM15.0 million Tranche B notes respectively. The notes are to be issued under Inverfin’s proposed RM200.0 million Medium Term Notes (MTN) Programme. The outlook on the ratings is stable.The notes are structured on an interest-only basis and backed by the col...
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MARC has affirmed its AAAIS rating on Midciti Resources Sdn Bhd’s (Midciti) outstanding RM880 million Sukuk Musharakah Islamic Medium Term Notes (IMTN) Programme. The outlook on the rating is stable. Midciti is a 76.1% indirect subsidiary of Petroliam Nasional Berhad (PETRONAS) and is the owner of the 88-storey PETRONAS Twin Towers. Rental payments from PETRONAS as the head lessee of the PET...
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MARC has affirmed its AAAID(bg) and MARC-1ID(s) ratings on Horizon Hills Development Sdn Bhd’s (Horizon Hills) Islamic Bank Guaranteed Medium Term Notes (IMTN) Programme of up to RM200 million and Islamic Commercial Papers (ICP) Programme of up to RM70 million respectively. The ratings carry a stable outlook. Horizon Hills is jointly-owned by UEM Land Berhad (UEM Land) and Gamuda Berhad (Gam...
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